Not just a big deal that the head of the Bank of England is calling for the break up of big banks in the U.K., it’s noteworthy how honest he is in describing what most of them have become.
From the article:
“The second option might involve preventing banks from combining risky ‘casino’ activities with the basic, [...]
Entries Tagged as ‘Legalize It’
October 22, 2009
Split the Banks Into Utilities and Casinos
September 6, 2009
60 Minutes: Wall Street’s Side Bets
We are forbidden by law to wager our own money on football games, but Congress changed the law in 2000 so that Wall Street could legally make bets and nearly bring down the world economy. Good show, gents.
Entire clip is fascinating, but if you are pressed for time, start it at 1:15. You’ll hear: “… [...]
June 15, 2009
NFL Loses Right to Moral Ground on Betting Issue
[An AP article By TIM DAHLBERG from May 23, 2009]
NFL loses right to moral ground on betting issue
By TIM DAHLBERG
Coming soon to a state lottery near you: NFL team logos you can save after blowing 20 bucks on yet another worthless batch of scratch-off tickets.
Coming soon to the Delaware state lottery: A legitimate [...]
December 19, 2008
Wall Street Madoff Like Bandits
I have a bit of a chip on my shoulder when it comes to Wall Street, so I will keep my comments to a minimum. The Bernie Madoff scandal is an appropriate ending to the craziest year on Wall Street in many generations. Please read Paul Krugman’s New York Times article (link and excerpt [...]
December 9, 2008
CentSports LetDown
As I’ve explained before, I’m a big fan of CentSports.com. This NFL season I hoped to do my part and drive a little traffic to their site by applying the Underdog Theorem to my CentSports bankroll. Things were going well until this weekend.
It was a letdown to see that the only bet the [...]
December 5, 2008
75th Anniversary of the Repeal of Prohibition
Happy 75th! Celebrate appropriately.
Two articles on the subject of prohibition:
End to Prohibition marks 75 years
How I Spent My Immoral Sunday
November 26, 2008
Did You Know…
…that in the United States it was illegal to brew beer in the privacy of your own home until 1978? Many believe it was illegal to do so until 1979. Either way – ridiculous. I look forward to future Thanksgivings when Americans can legally place NFL bets from the privacy of their own homes (as [...]
November 4, 2008
Betting on Our Future
Would more United States citizens participate in the political process if it were legal for them to bet on the outcome? We all know that the NFL owes its incredible popularity to betting, from point spread bets to fantasy football leagues and office pools. Maybe betting on the presidency would make voting more [...]
October 10, 2008
The Legal Betting Mess
To say that our country’s market meltdown is frustrating would be as large an understatement as one could make. Whenever I’m reminded that it came about largely because of Wall Street’s completely legal and completely unregulated gambling, steam shoots out of my ears. Keep in mind that the now much talked about Joe Sixpack cannot [...]
September 25, 2008
Buffett’s Bet
A few weeks back, the American press openly reported that Senator McCain gambled. Now the news is covering the fact that Warren Buffett bets! Never has the United States’ categorization of legal vs. illegal gambling seemed more absurd than it does right now. There are no laws in place to prevent Wall Street from jeopardizing [...]
